Tadawul Group 2021 profit rises 17% to SAR 587.7 mln; Q4 earnings down 28%

06/03/2022 Argaam Exclusive

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Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit after Zakat and tax of SAR 587.7 million in 2021, up 17% from SAR 500.5 million in the year-ago period.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,079.64	1,166.08	8.0 %
Gross Income	754.40	834.29	10.6 %
Operating Income	543.16	613.57	13.0 %
Net Income	500.52	587.69	17.4 %
Average Shares	120.00	120.00	-
EPS (Riyals)	4.17	4.90	17.4 %

The profit was driven by an 8.01% year-on-year (YoY) increase in operating revenues due to the solid growth in trading services, post-trade services and listing fees.

The group’s gross profit increased 8.7% YoY in 2021 due to higher operating revenues. In addition, Zakat expenses decreased by 20.7% because of the optimization of the group’s financial assets in 2021.

The company reported a net profit after Zakat and tax of SAR 110.5 million in Q4 2021, a decline of 28% YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	382.14	257.54	(32.6 %)
Gross Income	302.68	184.53	(39.0 %)
Operating Income	226.01	110.57	(51.1 %)
Net Income	153.59	110.46	(28.1 %)
Average Shares	120.00	120.00	-
EPS (Riyals)	1.28	0.92	(28.1 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	262.64	257.54	(1.9 %)
Gross Income	178.48	184.53	3.4 %
Operating Income	130.30	110.57	(15.1 %)
Net Income	115.19	110.46	(4.1 %)
Average Shares	120.00	120.00	-
EPS (Riyals)	0.96	0.92	(4.1 %)

On a sequential basis, Q4 2021 net profit decreased 4.1%.

Shareholders' equity, excluding minority interest, at the end of the period amounted to SAR 3.092 billion, compared to SAR 3.634 billion in the same period of the previous year.

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